Finally My May 2018 Net Worth Post

May 2018

Hi everyone I know I am a couple of weeks late with this post my apologies I have been busy with work and the World Cup has caught my attention. Today I am focused on finishing this post to give you guys a look at my financials to see if they have improved or declined from April.

May was a quiet month for me which is a positive. I did not make big purchases. One thing to mention about my employment at the end of May I got hired on as a part-time employee with my employer which is a step up from being classified as a supply custodian. I mention this because as a part-time employee I have 20 hours per week that is mine, on top of this my boss as placed me in a long term placement which gives me an additional 17.5 hours per week for a total of 37.5. This affects my finances because I now get paid every week which is kind of neat.

Let’s get to the numbers shall we!

All numbers are as of May 31, 2018

May April Change
Cash & Savings $6,074.21 $5,312.87 $761.34
Investments $121,492.82 $120,214.00 $1,278.82
Car $14,282.00 $14,282.00 $0.00
Liabilities $9,984.57 $10,854.79 -$870.22

Cash & Savings (+$761.34)

May April Change
Car Account $1,316.38 $911.61 $404.77
Cash $454.92 $559.96 -$105.04
Emergency Fund $4,302.91 $3,841.30 $461.61

May was a good month for my savings, I was able to add more to my car account and emergency savings. I would like to eventually get my emergency fund up to $10,000 I don’t have a fixed deadline for this (maybe 2019??). In my April net worth post I mentioned that I would make an extra payment on my car loan well I delayed that until June.

Investments (+$1,278.82)

May April Change
Locked in RRSP $4,095.99 $3,948.00 $147.99
TFSA $30,175.75 $29,195.00 $980.75
RRSP $87,221.08 $87,071.00 $150.08

My investments saw a nice bump in May. This growth came from fresh capital that I deployed in the month and through dividends received ($369.72). One small concern I have is that my RRSP account didn’t grow. Above it says it grew by $150.08 but I received $200.33 in dividends without that I would have lost $50. I may need to take a look at my account and see if I need to make some changes.

Car ( $14,282.00)

I currently own a 2015 Hyundai Elantra GLS and according to Canadian Black Book the value of the car is now $14,282.00. I check this every three months.

Liabilities (-$870.22)

May April Change
Credit Card $97.54 $670.86 -$573.32
Car $9,887.03 $10,183.93 -$296.90

My liabilities declined nicely in May, I was able to pay off my balances that I had at the end of April. I have a small amount on my cards at the end of May. Also I made my regular two monthly payments on my car.

Net Worth

 

Yay I surpassed $130k. When you put all the numbers together May was the second best month of 2018 for me my net worth increased by $2,910.38.

How did you guys do in May?? I hope it was positive. I promise that my June post will be done more quickly πŸ™‚

Thanks for reading I appreciate your support.

Matthew

May 2018 Net Worth

21 thoughts on “Finally My May 2018 Net Worth Post

  1. Hey Matt

    Congrats on a getting more hours, steady income is key to long term financial freedom!

    What is your long term goal for housing? Are you looking at buying a house/condo – staying where your at? Renting?

    Just curious – if no plans to buy a house, probably don’t need to sit on so much cash (unless you are holding it for when the market inevitably crashes..haha)

    Liked by 2 people

    1. Hey buddy I don’t currently have a plan per say. At some point I would like to move out and get a place of my own. Over the years I have been laser focused on investing my money that is why cash is so slow. Now I think I will slowly balance my money my saving it in cash and investing. Heck if the market does crash I could always use that money to invest πŸ™‚

      Liked by 1 person

  2. Hey Matthew,

    Congrats! – 130k is awesome and when i look at your chart i see a steep upward trend. Keep going!

    May was positive for me as well – a new dividend income record with 848$…and i’m watching the world cup of soccer at the moment. A lot of teams can win. Do you have a favorite team?

    Greets,
    DividendSolutions

    Like

  3. You had another great month! Congrats about your increase in work hours and also paying off liabilities while increasing your net worth. All good stuff!

    Liked by 1 person

  4. I love reading net worth posts like this Matthew. Thanks for sharing. I keep saying that I want to publish a post like this but still haven’t. At some point down the road I will. Until then I’ll live vicariously through the bloggers that do share their net worth. Your allocation is looking fantastic. Keep it up!

    Liked by 1 person

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s